Today’s cryptocurrency market is mostly in green, following yesterday’s minor price drops. This includes a small increase in bitcoin’s price to $47,000, and impressive gains from Polkadot & Avalanche.
Bitcoin is now worth more than $47K
Although bitcoin appeared to be stuck at $47,000 as 2021 neared its end, a sudden price surge drove it above $48,500, CryptoPotato reported December 31st.
The landscape quickly changed in the hours that followed. BTC stopped charting further gains and plummeted by $3,000. The result was a drop to just under $46,000 which was the lowest price in 11 days.
Bitcoin has started to recover some of its lost value over the last 24 hours. After a small 24-hour increase, the bulls have added more than $1,000 to bitcoin. Bitcoin now stands at well over $47,000. The asset’s market capitalization now stands at just below $900 billion.
BTCUSD. Source: TradingView
lts in Green With DOT and AVAX Rising
BTC’s performance has been replicated by many larger-cap altcoins, with the exception of the last 24 hours. Ethereum is slightly higher on a daily basis, while the second-largest crypto cannot reclaim $3800.
Binance Coin trades at $520 and is up 1.5% Similar gains can be seen in Solana and Ripple as well as Terra, Terra, Dogecoins, Cardano, Shiba Inu, Ripple, Terra and Terra.
Avalanche and Polkadot are the two top performers among larger-cap alts from yesterday. The DOT has grown by almost 6% to $30 and now stands at nearly $30. AVAX has jumped 5.5% to $116 and is at $116.
Revain (17%) and Harmony (12%) are the most profitable. ICP (12%), Curve DAO Token (11%), YFI (10%) and Fantom (10%) offer more gains.
The crypto market cap has risen by approximately $40 billion per day to $2.250 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
Marla Brooks – Financial Analysis
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